Citigroup Inc. Has $5.99 Million Position in Biohaven Ltd. (NYSE:BHVN)

Citigroup Inc. lifted its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 125.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,905 shares of the company's stock after buying an additional 66,801 shares during the quarter. Citigroup Inc. owned about 0.13% of Biohaven worth $5,992,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Biohaven during the 3rd quarter valued at about $50,000. Redwood Wealth Management Group LLC bought a new stake in Biohaven during the second quarter worth approximately $61,000. Values First Advisors Inc. acquired a new position in Biohaven during the third quarter valued at approximately $78,000. US Bancorp DE raised its position in shares of Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company's stock valued at $109,000 after purchasing an additional 790 shares during the period. Finally, KBC Group NV lifted its stake in shares of Biohaven by 24.5% in the third quarter. KBC Group NV now owns 2,250 shares of the company's stock worth $112,000 after buying an additional 443 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

Analysts Set New Price Targets

BHVN has been the topic of several recent analyst reports. Bank of America lifted their target price on shares of Biohaven from $52.00 to $62.00 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Robert W. Baird lifted their price objective on Biohaven from $58.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, September 23rd. Sanford C. Bernstein boosted their price objective on Biohaven from $55.00 to $66.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. raised their target price on Biohaven from $55.00 to $68.00 and gave the company an "overweight" rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group started coverage on Biohaven in a report on Monday, September 16th. They set a "buy" rating and a $57.00 price target for the company. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $62.75.

Biohaven Stock Down 2.8 %

NYSE:BHVN traded down $1.27 during mid-day trading on Monday, reaching $44.74. 682,006 shares of the company were exchanged, compared to its average volume of 1,126,427. Biohaven Ltd. has a 12 month low of $26.80 and a 12 month high of $62.21. The stock has a market cap of $4.52 billion, a PE ratio of -4.92 and a beta of 1.31. The company has a fifty day moving average of $49.77 and a 200 day moving average of $41.43.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.03). On average, equities research analysts anticipate that Biohaven Ltd. will post -8.85 EPS for the current fiscal year.

Insider Transactions at Biohaven

In related news, Director John W. Childs purchased 21,052 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, with a total value of $999,970.00. Following the purchase, the director now directly owns 21,052 shares in the company, valued at $999,970. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gregory Bailey bought 5,000 shares of Biohaven stock in a transaction on Tuesday, September 24th. The shares were acquired at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the acquisition, the director now owns 1,620,071 shares of the company's stock, valued at approximately $71,590,937.49. This represents a 0.31 % increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by corporate insiders.

About Biohaven

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.